CONSTRUCTIONPENDING

County of San Luis Obispo Homeless Services Grants Application 2026

$1.5M Sought for Monterey Family Apartments Project

$869,961.00 (HOME), $722,388.00 (CDBG), $3,800,000.00 (property acquisition)City of San Luis ObispoSAN LUIS OBISPO NONPROFIT HOUSING CORPORATIONOctober 10, 2025

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Description

San Luis Obispo Nonprofit Housing Corporation is requesting $869,961 in HOME funds and $722,388 in CDBG funds for the Monterey Family Apartments construction at 1422 Monterey St, with an anticipated property acquisition price of $3.8 million. The project aims to deliver 51 new deed-restricted affordable housing units by 2027.

Contract Details

Contract Amount

$869,961.00 (HOME), $722,388.00 (CDBG), $3,800,000.00 (property acquisition)

Vendor

SAN LUIS OBISPO NONPROFIT HOUSING CORPORATION

Agency

City of San Luis Obispo, CA

Contract Type

CONSTRUCTION

Document Date

October 10, 2025

Contract Term

Funding for multi-year affordable housing construction, slated close of escrow November 18, 2026. Project completion and occupancy projected for 2027.

Renewal Date

2027-11-18

Renewal Info

Production housing project—funds are for acquisition and new construction; annual reporting and compliance will be required for affordability period and regulatory compliance; potential for future funding for additional phases.

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